Updated Single-Level
For Sale
$465,000
3914 I Street, Vancouver, WA 98663
Two self-contained units offer open living areas, newer appliances, and convenient single-level layouts.
Property Size1,560 SF
Price / SF$298.08
Days on Market225
Property Features for 3914 I Street
General Information
Standard status
Active
Size
1,560 SF
Total Parking Spaces
2
Property subtype
Multi Family
Zoning
R-22
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,060
Amenities
1
Slab
Composition
Lap Siding
Building Details
Year Built
1974
Buildings
1
Stories
1
Listing Agency:
eXp Realty LLC
Listed By:
Shelina Nelson · License #122083
(360) 609-1652
Source:
Compass
Added: Jan 20
Changed: Aug 31
Last Checked: Aug 31 at 10:01PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of eXp Realty LLC
Investment Insights
Based on property information with market context.
This 1,560-square-foot duplex, built in 1974, contains two single-level units with matching two-bedroom, one-bathroom layouts. Each residence includes an open living and dining area, a kitchen with newer appliances, and recent interior upgrades. A new roof and gutters serve the building, while the property also includes one attached garage and additional street parking within a cul-de-sac setting. R-22 zoning supports the duplex configuration.
The property is positioned near Discovery Middle School with access to public transportation and convenient connections to I-5 and SR-500. Clark College and downtown Vancouver are also described as being minutes away. The combination of separate residences, functional layouts, and updated building components provides a straightforward multifamily format for the Vancouver market.
The property is positioned near Discovery Middle School with access to public transportation and convenient connections to I-5 and SR-500. Clark College and downtown Vancouver are also described as being minutes away. The combination of separate residences, functional layouts, and updated building components provides a straightforward multifamily format for the Vancouver market.
Key Highlights
- Two‑unit duplex with 2 bedrooms and 1 bathroom in each unit
- 1,560 SF building constructed in 1974
- Single‑level floor plans with open living and dining areas
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$20,844
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.48%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$416,880
$416.9K
Cap Rate 7%
$297,771
$297.8K
Cap Rate 9%
$231,600
$231.6K
Market Conditions
NOI Build-Up for 1,560 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$31.3K $20.04/SF
− Vacancy
−$1.5K −$0.95/SF
EGI
$29.8K $19.09/SF
− OpEx
−$8.9K −$5.73/SF
NOI
$20.8K $13.36/SF
Area
Vancouver, WA
Vacancy
4.75%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$416,880
Cap Rate 7%
$297,771
Cap Rate 9%
$231,600
Alternative Uses
Best Use
Multifamily LT 5
$297.8K
$260.6K – $347.4K
NOI $20,844 @ 7.0% cap · market cap 4.48%
Second Best
Apartment 5plus
$258.5K
$226.2K – $301.6K
NOI $18,095 @ 7.0% cap · market cap 3.89%
Theoretical Best
Office A
$381.7K
$334.0K – $445.3K
NOI $26,718 @ 7.0% cap · market cap 5.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
696
Businesses Nearby
Explore this area
Business Placement
Demographics for 98663, WA
15,188
Population
6,753
Households
2.2
Avg Household Size
39
Median Age
32%
College-Educated
91%
High-School Grad
4.1 sq mi
ZIP Area
3,704
Density / Sq Mi
$84,590
Median Household Income
$47,747
Median Earnings
$1,538
Median Rent
$430,900
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two self-contained units offer open living areas, newer appliances, and convenient single-level layouts.
Where is this duplex located?
The property is located at 3914 I Street Vancouver, WA.
What is the asking price?
The asking price for this property is $465,000.
What are key features of this property?
This property features: Two‑unit duplex with 2 bedrooms and 1 bathroom in each unit; 1,560 SF building constructed in 1974; Single‑level floor plans with open living and dining areas
